POLISH COAL MARKET MIDWEEK SUMMARY 51/2015

October was the second month this year when domestic coal sector achieved a green result (51.6m PLN). And although it was three times less than in August, it is still a good sign for an industry, that by average brings 150m PLN o loss each month.

15 managers wants to be the new CEO of Jastrzębska Spółka Węglowa, having 7.5bn PLN of debt. All the interviews will be run tomorrow. Meanwhile, Paweł Orlof, who lost his job in Enea was also removed from the Supervisory Board of LW Bogdanka.

Commenting the PM Beata Szydło’s decision of ARM buying out the unsold coal from the piles, Maciej Zblewski PhD, (allegedly) an expert of energy security said that this move is a chance for increasing the export to Ukraine. Overlooking the recurring nonsense of selling Polish steam coal to the Ukrainian anthracite-fired energy blocks, the logic behind this argument is rather interesting: Polish coal producers couldn’t so far explore this market but the SPA, that is specialized in maintaining oil reserves and the chairs for PSL members to fart around – can…

…unfortunately, his moronic comment was soon after repeated by the Polish Minister of Development Mateusz Morawiecki, and later quoted by Platts Coal.

And last but no least – bellow you can find all the parts of our report on the coal sector performance in the first 9 months of 2015:

  1. RESULTS AFTER 3 QUARTERS: PRODUCTION
  2. RESULTS AFTER 3 QUARTERS: DOMESTIC SALES
  3. RESULTS AFTER 3 QUARTERS: IMPORT&EXPORT
  4. RESULTS AFTER 3 QUARTERS: PRICES&COSTS
  5. RESULTS AFTER 3 QUARTERS: FINANCES
  6. RESULTS AFTER 3 QUARTERS: EMPLOYMENT
  7. RESULTS AFTER 3 QUARTERS: RESTRUCTURING
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